Cree, Inc. (Nasdaq: CREE) introduces the OSQ ™ Area LED luminaire, the first LED area luminaire specifically designed and priced to replace the nearly 54 million * outdated high intensity discharge (HID) area parking lights installed in the United States. Delivering an unprecedented combination of industry-leading performance and low-profile design at nearly half the price of comparable LED luminaires, the Cree ® OSQ Area LED luminaire provides up to 70 percent energy savings with a quick payback of two years. ** “The OSQ ™ Area LED luminaire is an example of Cree’s commitment to continuous innovation and 100 percent LED adoption by delivering another luminaire that sets a new industry benchmark for performance, price and versatility, without sacrificing aesthetics,” said Norbert Hiller, Cree executive vice president, lighting. “Providing an unmatched level of performance that cuts Cree’s already affordable LED area luminaire pricing by as much as 50 percent confirms that we are continuing to find ways to improve the value of LED lighting for our customers.” With Cree’s superior innovations in thermal design, the OSQ Area LED luminaire features a remarkably thin, 3.8-inch housing, providing an attractive design during the day while delivering the industry’s best optical performance with efficiency of up to 100 lumens-per-watt in the evening. Available in 3000K, 4000K and 5700K color temperatures with a 100,000-hour rated lifetime, the OSQ Area LED luminaire will soon be eligible for utility rebates to drive even greater affordability. Backed by Cree’s industry-leading 10-year warranty, the versatile OSQ Area LED luminaire is ideal for area and floodlight applications such as campuses, office and retail complexes, medical centers and municipalities. The Cree OSQ Area LED luminaire is available through distribution throughout the United States and Canada. Please visit www.cree.com/lighting/OSQSeries for more information. * U.S. Department of Energy, 2013 ** Payback compared to 400W Metal Halide area luminaire and based on usage of 12 hours per-day and the national average of $0.11 per kWh electric costs. About Cree Cree is leading the LED lighting revolution and making energy-wasting traditional lighting technologies obsolete through the use of energy-efficient, mercury-free LED lighting. Cree is a market-leading innovator of lighting-class LEDs, LED lighting and semiconductor products for power and radio-frequency (RF) applications.